Intel Sunday announced that it has dropped the price of seven processors by up to 31%.

There were three price cuts in Intel's Core 2 Duo chip family. The 3.16 GHz Core 2 Duo E8500 was cut from US$266 to $183 as of July 20. That 31% drop greatly outpaced all the other cuts, which ranged from 11% to 15%, according to an Intel price list.

The price of the Core 2 Duo 2.53 GHz E2700 chip was cut by 15% cut to $113, and the 3 GHz E8400 by 11% to $163. In addition the price tag for the company's Core 2 Q6600 2.4 GHz quad processor was reduced from $224 to $1993, a 14% drop.

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